Two-and-a-half weeks after IBM Corp. (NYSE:IBM) was first reported to be close to acquiring Sun Microsystems Inc. (NASDAQ:JAVA), it appears a deal might actually be imminent, at least according to omnipresent "people familiar with the talks" cited Friday in
The Wall Street Journal and
The New York Times.
It seems that the magic number, at least for now, is $9.55 per share, a drop in the previously reported offer due to Sun
lowering the price in exchange for assurances from IBM that it would see the deal through despite any potential regulatory delays.
A deal reportedly could be announced as early as Friday, though the NYT said it is more likely to be unveiled next week. IBM's board has already approved the acquisition, the paper said.
- Olaf de Senerpont Domis
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Rumors now confirmed: Sun (NYSE: JAVA) & Google (NYSE: GOOG) meeting to fend off IBM (NYSE: IBM)
take over bid.
Google's offer: 5 year wholly owned/managed subsidiary of Google, end of term, Sun returns to complete autonomy.
Such a move will counter IBM's entirely monopolistic
practices.